The Day Ahead: PM Edition 2019-08-12

My idea of a lower high in bonds is in danger. Bond prices are rising from a test of support in what appears to be [V] of v of (c). If that terminates under 164^28, it will be for a wave [ii], if a new high, [v] of the ending diagonal.

The Week Ahead 2019-08-11

Bonds have run up to just short of the 2016 but it is holding under it so far. I prefer a lower high to 165^04 but if it pokes to a new high, I will just call this the end of a larger diagonal. Ideally, prices use 162^30 as resistance and fall back to 159^04 or 156^01. Bears need bond prices under 156^01 to take a new high off the table.